winter. one off bonuses. now to france where its rail network will suffer major disruption today as workers strike over wage increases in the face of rising inflation. the move is timed as schools break up for the grandes vacances which is the first big getaway of the summer and is set to cause chaos across the country. nearly a quarter of tgvs will be cancelled, but international travel, such as the eurostar are expected to run normally. claus vistesen is chief eurozone economist at pantheon macroeconomics. good to talk to you. i was just talking to justin good to talk to you. i was just talking tojustin there, about the strike action and the wage debates going on in the uk, it s very much dominating and dance as well with today a lot of people finding it difficult to get around? of people finding it difficult to get around? what we are seeinu to get around? what we are seeing in to get around? what we are seeing in europe to get around? what we are seeing in europe as - to
At the time of writing the pair are currently trading at around £0.8724.
Euro (EUR) Falls as Eurozone Industrial Production Dented
The Euro struggled against the Pound today as industrial production fell across the Eurozone in December.
Industrial production dropped 1.6% from November, however the dent in production didn’t slow growth too much.
Chief Eurozone Economist at Pantheon Macroeconomics, Claus Vistesen, said:
‘The setback in December didn’t dent the Q4 performance much. The rebound will lose momentum in Q1 but the surveys suggest that there is plenty left in the tank for a continued rebound.’
The Euro also struggled today as risk-on trade increases and drags down demand for the single currency.